Graco Inc. (NYSE:GGG) Director Jack W. Eugster sold 17,924 shares of the business’s stock in a transaction that occurred on Wednesday, December 4th. The stock was sold at an average price of $48.24, for a total transaction of $864,653.76. Following the completion of the transaction, the director now directly owns 114,678 shares of the company’s stock, valued at approximately $5,532,066.72. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.
GGG stock traded up $0.02 during midday trading on Thursday, hitting $48.00. 19,431 shares of the stock traded hands, compared to its average volume of 528,032. Graco Inc. has a 1-year low of $38.59 and a 1-year high of $53.91. The company has a debt-to-equity ratio of 0.20, a current ratio of 2.69 and a quick ratio of 1.68. The stock’s fifty day simple moving average is $47.05 and its 200-day simple moving average is $47.47. The firm has a market cap of $8.06 billion, a P/E ratio of 25.53, a PEG ratio of 2.32 and a beta of 0.96.
Graco (NYSE:GGG) last posted its earnings results on Wednesday, October 23rd. The industrial products company reported $0.45 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.51 by ($0.06). Graco had a return on equity of 36.17% and a net margin of 20.29%. The firm had revenue of $400.60 million for the quarter, compared to analysts’ expectations of $418.93 million. During the same period in the previous year, the company earned $0.50 earnings per share. The company’s revenue was down 3.7% compared to the same quarter last year. On average, research analysts predict that Graco Inc. will post 1.81 earnings per share for the current year.
Several brokerages have issued reports on GGG. ValuEngine cut Graco from a “sell” rating to a “strong sell” rating in a research report on Wednesday, September 4th. Royal Bank of Canada set a $46.00 price target on Graco and gave the stock a “hold” rating in a research report on Friday, October 25th. One analyst has rated the stock with a sell rating and six have assigned a hold rating to the company. The company presently has a consensus rating of “Hold” and an average price target of $47.75.
A number of institutional investors and hedge funds have recently modified their holdings of GGG. BlackRock Inc. lifted its holdings in Graco by 3.5% during the second quarter. BlackRock Inc. now owns 15,382,636 shares of the industrial products company’s stock valued at $771,901,000 after purchasing an additional 517,850 shares in the last quarter. Kayne Anderson Rudnick Investment Management LLC raised its position in shares of Graco by 1.5% in the second quarter. Kayne Anderson Rudnick Investment Management LLC now owns 7,260,481 shares of the industrial products company’s stock valued at $364,332,000 after buying an additional 108,152 shares during the last quarter. Atlanta Capital Management Co. L L C lifted its stake in shares of Graco by 0.4% in the second quarter. Atlanta Capital Management Co. L L C now owns 3,374,213 shares of the industrial products company’s stock worth $169,318,000 after buying an additional 12,776 shares in the last quarter. Bank of New York Mellon Corp lifted its stake in shares of Graco by 1.5% in the second quarter. Bank of New York Mellon Corp now owns 2,273,805 shares of the industrial products company’s stock worth $114,099,000 after buying an additional 33,036 shares in the last quarter. Finally, Confluence Investment Management LLC lifted its stake in shares of Graco by 0.5% in the third quarter. Confluence Investment Management LLC now owns 2,117,809 shares of the industrial products company’s stock worth $97,504,000 after buying an additional 9,815 shares in the last quarter. 84.11% of the stock is currently owned by institutional investors.
Graco Company Profile
Graco, Inc is a manufacturing company, which designs, manufactures and markets systems and equipment used to move, measure, control, dispense and spray fluid and powder materials. It operates through the following segments: Industrial, Contractor and Process. The Industrial segment includes the Applied Fluid Technologies division, Industrial Products division and Process division.
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